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Chicago Mercantile Exchange halts trade due to coronavirus

According to CNBC, the CME derivatives exchange temporarily stopped trading in Chicago due to the spread of the coronavirus, which was recognized by the WHO as a pandemic on March 11. The restriction will come into force on March 13, 2020.

CME is the second exchange that launched Bitcoin futures in the United States back in 2017. In January, the Chicago Exchange launched bitcoin options, the trading of which on the first day exceeded the volume of Bakkt.

A CME report in which management announced the suspension of trading said the following:

“Not a single case of coronavirus was recorded in the trading room or in the building of the Chicago Board of Trade. However, the opening of trading will occur as additional medical recommendations for coronavirus appear ”

CME’s employees will continue to work from the main office of the company, while some cryptocurrency companies transferred their staff to the remote mode. Among these are the cryptocurrency exchange Coinbase and the analytical company Messari.

A coronavirus outbreak has had a detrimental effect on the entire US economy: the Dow Jones index has lost 1,500 points over the past 24 hours. According to CoinMarketCap, the cryptocurrency market is also losing ground: Bitcoin has become almost 12% cheaper, and Ethereum has lost 12.7%.